The Securities and Exchange Commission is looking to limit whistleblower payouts after doling out tens of millions of dollars in a recent case. The SEC voted 3-2 Thursday to propose a limit limiting whistleblower payouts after an $83 million award in March to three tipsters – the largest payday in the history of the SEC’s whistleblower program—raised concerns that the jackpots may be getting “too large,” according to the proposal...

Categories

BoardProspects Features:

Quotes

The proposed rules are intended to help strengthen the whistleblower program by bolstering the Commission's ability to more appropriately and expeditiously reward those who provide critical information that leads to successful enforcement actions.